Rio de Janeiro – The Brazilian economy grew 1.9% in the second quarter this year compared with the previous quarter. The highest expansion was recorded in the industry sector, which had a 2.1% increase in output. The services sector, in turn, grew 1.2%. Agriculture saw a reduction of 0.1%.
In comparison with the second quarter of 2008, the GDP decreased by 1.2%. In the four-quarter period ending in June, the GDP grew 1.3% over the previous four-quarter period. In the first half of 2009, the sum of all wealth produced in the country saw a reduction of 1.5% in comparison with the same period last year.
Using the same basis for comparison, family consumption grew 3.2%, in the 23rd consecutive period of growth. One of the factors that contributed to the result was the behaviour of the actual wage bill, which grew 3.3% in the second quarter of 2009. Besides, credit granted to natural persons grew 20.3%.
Expenditure on consumption by the public administration had a 2.2% variation compared with the first quarter of 2008, and investment (gross formation of fixed capital) decreased by 17%. This was the highest rate of reduction using this basis for comparison since 1996, when the Brazilian Institute for Geography and Statistics (IBGE) started keeping track of quarterly figures.
The data concerning the Gross Domestic Product (GDP), i.e. the sum of all goods and services produced in the country, are being disclosed today (11th) by the IBGE.
*Translated by Gabriel Pomerancblum
